Article 25 Identification de l’objet et de la nature envisagée d’une relation d’affaires ou d’une transaction à titre occasionnel

This article sits within the customer due diligence framework and addresses the obligation of obliged entities to understand the purpose and intended nature of a business relationship or occasional transaction before it begins.

Rather than simply identifying who a customer is, this article focuses on the "why" — ensuring the obliged entity gathers enough contextual information to make sense of the relationship or transaction.

A specific carve-out applies to obliged entities dealing in high-value goods under Article 74, who must additionally determine whether those goods are intended for commercial or non-commercial use.

Important points:

• Before entering a business relationship or performing an occasional transaction, obtain information on the purpose, economic rationale, estimated activity amounts, source and destination of funds, and the customer's business activity or occupation.
• The obligation to gather this information is conditional — it applies "where necessary," meaning it is not a blanket requirement in every case.
• Obliged entities covered by Article 74 (those dealing in high-value goods) must also establish whether the intended use of those goods is commercial or non-commercial.